Kotak Mahindra Bank’s Board approved unaudited standalone and consolidated results for the quarter ended June 30, 2023, at a Mumbai Board meeting.Kotak Mahindra Bank’s standalone Q1FY24 results showed that The Bank’s Q1FY24 PAT increased by 67% YoY to 3,452 crore, with net interest income rising to 6,234 crore from 4,697 crore in Q1FY23. Net Interest Margin was 5.57%.
Fees and services increased to 1,827 crore, with a 20% YoY increase in fees and services. Operating profit was 4,950 crore, up 78% YoY. As of June 30, 2023, the bank had 43.5 million customers. CASA ratio as at June 30, 2023 stood at 49.0%.
Consolidated PAT for Q1FY24 was ₹ 4,150 crore, up 51% YoY from ₹ 2,755 crore in Q1FY23. The consolidated return on assets (ROA) for Q1FY24 was 2.63%, while the return on equity (ROE) was 14.62%. The Consolidated Capital Adequacy Ratio was 23.3%, and the CET I ratio was 22.3%. The book value per share was 584. The Group’s total assets managed/advised were 4,66,878 crore, up 23% YoY from 3,78,474 crore in Q1FY22. The Alternate Assets’ AUM increased by 90% YoY to 46,443 crore.
